The Globalization of New Product Development

Abstract

One of the most dramatic developments in NPD over the past 10 to 15 years has been the globalization of new product development. Today some of the largest and fastest growing markets for new products are in countries that were not truly part of the global economy a generation ago. China, for example, is now the largest market for cellular telephones. China and India are the world’s fastest growing markets for automobiles and many consumer appliances. China, India and other emerging economies are also, increasingly, centers of excellence for the technologies key to certain products. Major new challenges for managers of NPD include both finding ways to develop products for a wider range of global markets than ever before, and drawing on the capabilities of human and technological resources that were largely ignored in the past. This chapter deals with these challenges.